12/08/2009
Asharqia Chamber Reveals KSA Largest Exporter of Butane
Saudi Arabia is the largest exporter of butane in the world. According to a recent report issued by the Information Center of Asharqia Chamber, the total value of Saudi exports of this type of gas reached SR9.3 billion ($2.5 billion) in 2007.
The report pointed out that the butane volume exported by Saudi Arabia in 2007 amounted to nearly 4 million tons, representing approximately 15.7% of the global export market, which was estimated at about 25.4 million tons in the same year. Saudi exports of butane increased by 16.3% in 2007, as compared with the previous year.
The report said that Asian non-Arab and non-Islamic countries were the major importers of Saudi butane, consuming about 73.6% of its total exports in 2007, followed by other Arab League countries with around 23.1%. Saudi Arabia also exports a significant volume of butane to European countries. In 2007, its exports to EU accounted for SR169 million.
The total value of world's export market of butane was estimated at $15.6 billion in 2007. This export market recorded an average growth rate of 29% a year between the period of 2003 and 2007.
According to the report, top 10 countries' butane exports amounted to $11.1 billion in 2007, representing over 71% of the total value of global exports. Algeria was ranked second capturing 12.18% of the total global exports, followed by the United Arab Emirates with 10.35% during the same period.
Japan tops the list of largest importers of butane in the world. Its consumption represented approximately 16.19% of the total value of world's market of this commodity in 2007. South Korea was the second largest importer of butane with its intake representing 9.69%, followed by India with 8.65 % during the same year.
Commenting on the report, Mr. Adnan A. Al Nueim, Secretary General of Asharqia Chamber, said that Saudi Arabia's success in the exports of butane and other non-oil products was due to government's pragmatic and realistic measures and initiatives undertaken for the sustainable growth of local industries. He particularly pointed to the Industrial Strategy adopted by the Ministry of Commerce and Industry with the objective of increasing contribution of the industrial sector to the Gross Domestic Product to 20% by the year 2020. He said that Saudi industries are now manufacturing world-class products, which have competitive advantages in the global market.
